Ford Reaffirms EBIT Outlook, Inks Lithium Products Supply Agreement With Nemaska Lithium
Portfolio Pulse from Shivani Kumaresan
Ford Motor Co has reaffirmed its FY23 adjusted EBIT guidance of $9 billion - $11 billion and expects an adjusted free cash flow of about $6 billion. The company has also signed a long-term agreement with Nemaska Lithium for the supply of lithium products, including lithium hydroxide, over an 11-year period.
May 22, 2023 | 1:11 pm
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Ford reaffirms its FY23 EBIT guidance and signs a long-term lithium supply agreement with Nemaska Lithium.
Ford's reaffirmation of its EBIT guidance and the long-term lithium supply agreement with Nemaska Lithium are positive developments for the company. The lithium supply agreement ensures a stable supply of lithium products for Ford's EV production, which is crucial for the company's growth in the EV market. This news is likely to have a positive short-term impact on Ford's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Nemaska Lithium, co-owned by Livent Corp, has signed a long-term lithium supply agreement with Ford Motor Co.
The long-term lithium supply agreement between Ford and Nemaska Lithium is a positive development for Livent Corp, as it co-owns Nemaska Lithium. This deal ensures a stable demand for lithium products from Ford, which could positively impact Livent Corp's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50